© Dukascopy Bank SA
- Bank of New Zealand (based on The New Zealand Herald)
Pair's Outlook
The US Dollar sustained a rather heavy loss against its Canadian counterpart, amid worse-than-expected Non-Farm Payrolls figures on Friday. As a result, the pair not only breached the two immediate supports, but also pierced the third one, reaching a two-week low. The Greenback remains weak and under pressure, likely to experience another decline, with the closes support located around 1.3108, namely the Bollinger band. Nevertheless, a rebound to the 55-day SMA is also possible, as weekly technical studies retain distinctly bullish signs.
Traders' Sentiment
Traders' sentiment barely changed, with 53% of all positions being long. The share of buy orders now takes up only 22% of the market.
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